Posted on: 26th Mar, 2012 08:05 pm
Hello,
So, back in 2002, my wife and I purchased a house in AZ. At the time of purchase we were living in WA state and still are. However, my parents are the ones that have been living in the house since day one and have made all the payments. Some years ago, my father and I did a Quick Claim deed but I dont think he has filed it yet. My wife and I are needing to file bankruptcy(Ch.7) but the AZ house is not are primary residence. What can we do so that the house is not taken away in the bankruptcy? Should my father file the QCD? or is there a way to prove the house is not actually ours?
So, back in 2002, my wife and I purchased a house in AZ. At the time of purchase we were living in WA state and still are. However, my parents are the ones that have been living in the house since day one and have made all the payments. Some years ago, my father and I did a Quick Claim deed but I dont think he has filed it yet. My wife and I are needing to file bankruptcy(Ch.7) but the AZ house is not are primary residence. What can we do so that the house is not taken away in the bankruptcy? Should my father file the QCD? or is there a way to prove the house is not actually ours?
Hi Guest!
Welcome to forums!
You will have to check out the property deed in order to find out whether or not your name is mentioned on it. If your name is not mentioned on the property or the mortgage, then this property won't be included in your bankruptcy filing. Thus, the property will be safe.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You will have to check out the property deed in order to find out whether or not your name is mentioned on it. If your name is not mentioned on the property or the mortgage, then this property won't be included in your bankruptcy filing. Thus, the property will be safe.
Feel free to ask if you've further queries.
Sussane
Welcome Guest,
If the property is not in your name, then you won't be considered as the property owner. As Sussane has mentioned, it won't be included in your bankruptcy filing in that case.
If the property is not in your name, then you won't be considered as the property owner. As Sussane has mentioned, it won't be included in your bankruptcy filing in that case.
The house is tech in my wives and my name. All the bills and mail come to that address monthly. I believe even some of the utilities are in our name aswell.
The QCD has not been filed yet but my father still has it.
The QCD has not been filed yet but my father still has it.
You or your father will have to file the quitclaim deed and get the property transferred in your name.